Estabrook Capital Management Trims Holdings in Visa Inc (V)

Estabrook Capital Management decreased its holdings in Visa Inc (NYSE:V) by 17.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,230 shares of the credit-card processor’s stock after selling 1,510 shares during the quarter. Estabrook Capital Management’s holdings in Visa were worth $761,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Welch Investments LLC purchased a new position in shares of Visa during the 3rd quarter valued at $101,000. Cordasco Financial Network acquired a new stake in shares of Visa in the 3rd quarter valued at $105,000. Motco lifted its position in Visa by 25.1% during the 2nd quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after acquiring an additional 236 shares during the last quarter. Massey Quick Simon & CO. LLC acquired a new position in Visa during the 3rd quarter worth $110,000. Finally, BDO Wealth Advisors LLC acquired a new position in Visa during the 2nd quarter worth $115,000. Hedge funds and other institutional investors own 81.28% of the company’s stock.

In related news, SVP James H. Hoffmeister sold 2,146 shares of Visa stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $112.09, for a total transaction of $240,545.14. Following the sale, the senior vice president now directly owns 687 shares of the company’s stock, valued at approximately $77,005.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Matschullat sold 6,220 shares of Visa stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $113.76, for a total transaction of $707,587.20. Following the sale, the director now directly owns 57,368 shares in the company, valued at $6,526,183.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,068 shares of company stock worth $6,597,262. Insiders own 0.14% of the company’s stock.

Shares of Visa Inc (NYSE:V) traded up $1.39 during trading on Wednesday, reaching $119.74. 2,352,638 shares of the company’s stock traded hands, compared to its average volume of 8,761,476. Visa Inc has a twelve month low of $86.70 and a twelve month high of $126.88. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.60. The firm has a market cap of $268,800.00, a PE ratio of 39.58, a price-to-earnings-growth ratio of 1.57 and a beta of 1.03.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.10. Visa had a net margin of 38.12% and a return on equity of 32.97%. The business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the company earned $0.86 EPS. The business’s revenue was up 9.0% on a year-over-year basis. equities analysts forecast that Visa Inc will post 4.36 EPS for the current year.

Visa announced that its board has authorized a share buyback program on Thursday, February 1st that allows the company to buyback $7.50 billion in outstanding shares. This buyback authorization allows the credit-card processor to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Friday, February 16th will be issued a $0.21 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, February 15th. Visa’s dividend payout ratio (DPR) is currently 25.83%.

A number of research analysts have recently commented on V shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Visa in a research report on Thursday, February 1st. KeyCorp upped their price objective on shares of Visa from $125.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Cantor Fitzgerald upped their target price on shares of Visa to $141.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Citigroup reissued a “buy” rating and issued a $145.00 target price (up previously from $136.00) on shares of Visa in a research note on Monday, January 29th. Finally, Morgan Stanley upped their target price on shares of Visa from $126.00 to $137.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $133.85.

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About Visa

Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.

Institutional Ownership by Quarter for Visa (NYSE:V)

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